GM - GOVERNMENT MOTORS?

by Jordan M. Iwanyszyn

That is the headline I saw on CNN just a few minutes ago (8:15 PM CST). Granted, I don't watch the Commie News Network much except for Lou Dobbs, but I was passing through. It was a reminder of an announcement I first heard this morning that should scare all Americans.

On Sunday, Rick Wagoner, Chairman and CEO at General Motors, stepped down at the request of the White House. In other words, the Obama Administration forced out the head of one of America's largest corporations. That is something that would have been unthinkable just a few months ago. Tell me what gives the President the right to dismiss the head of a business in America. We were founded under a free enterprise business system. If someone has an idea, by George, they are supposed to go after it and create a business venture around their idea. That is something that has always interested me. John Wanamaker, Andrew Carnegie, John D. Rockefeller, Frank Woolworth, Walt Disney, Ray Kroc and Sam Walton. All are examples of those who had a business idea, went after it, and made a success for themselves. The government couldn't come in there and hire and fire people, because the American people wouldn't have it. That is a huge reason why our Founding Fathers and ancestors left Europe. Why would we repeat it!

My how things have changed in just a couple of months time. Granted, under the last couple of months of the Bush Administration we were doing bailouts and such, but we have taken a radical turn for the worst! Under Bush the national debt was over a trillion dollars, but now we are headed for a debt of over three trillion under the Obama Economy!

I heard Stuart Varney, an economic journalist, on the Sean Hannity radio show earlier today, and he was utterly amazed by how much we have fallen in our economic moral system in recent weeks. He mentioned how even German Chancellor Angela Merkel and French President Nicholas Sarkozy are in opposition to Obama's bailouts and plans for the economy. That should send shivers down America's spine when Europe's leaders have to give us a lecture in socialism.

It seems to me that Europe is learning from their failed experiment in socialism. That is why the Germans and French have decided to choose leaders that are of the more conservative in their countries, and why Britain is poised to do the same. Now, remember that conservative in Europe is not quite what it is in America, but definitely not even close to as far left as their competing major parties.

I hope America will look at the European example. If we don't, it will soon be too late for our great country!

PELOSI: "500 Million Americans Lose Their Jobs"

PELOSI ON THE STIMULUS:



NASHVILLE RADIO-HOST STEVE GILL ON PELOSI'S ABSURD COMMENT:

WHY CAN'T HOLLYWOOD AND THE SPORTS WORLD JUMP IN?

Joe Biden thinks that it's time for Americans to be "more patriotic" by paying more in taxes, especially those that actually contribute the most by investing and providing jobs (over $200,000 in earnings). I think entertainers and wealthy pro athletes should be more patriotic, but I don't think the government should be wrenching it from them through taxes.

Liberals always claim to be so benevolent, so caring. Hollywood (mostly made up of big-time libs) is sure not communicating that well today when they are more than eager to continue accepting big pay and throw lavish parties, while more and more from the lower and middle classes get ejected from their homes and can barely put food on the table.

As I said, I don't believe government should be prying more out of anybody's hand. What I am saying is why can't the liberal movie stars, singers and athletes volunteer massive pay cuts or donate most of their wealth to charities that take care of those suffering right now. Some already do, but while still having tens or hundreds-of-millions in their bank accounts. Why can't the ever-so-generous Biden, John Kerry, Herb Kohl and Chuck Schumer offer personal help to many that could use it. Why not give up a ritzy vacation to feed several families.

Can anyone sense a dose of hypocrisy?

WHAT IS STIMULATING ABOUT THIS STIMULUS?

Article by Jordan M. Iwanyszyn, with some info from an e-mail by Alan Rader

As many of us know, the American Recovery and Reinvestment Act of 2009 (otherwise known in the U.S. House of Representatives as H.R. 1) passed the House by a 244-188 vote. It is now being debated in the Senate, and Senate Majority Leader Harry Reid of Nevada wants to get a bill to Obama by Presidents Day.

This bill is otherwise known to most as the "Economic Stimulus" package. Many don't know just what is in this proposal, but it is now starting to get around, thanks to the New Media in the Internet and on talk radio. Following is a sampling of what was originally in the bill before the Senate cut about $100 billion in pork, to cut the bill down to a $827 billion piglet. It had gotten as high as a $920 billion bill. Here were some of the numbers before the cuts were made (the notes in parentheses were little pointers from a friend of mine, Alan Rader):

$160 million- paid volunteers for national community service program (what is a paid volunteer?!)
$1.7 million- for national parks
$7.6 billion for rural community advancement
$850 million for Amtrak
$87 million for a polar ice breaking ship (I thought the polar ice caps melted already!)
$500 million for the endowment for the arts
$600 billion for university building projects (I sincerely hope I wrote that one down wrong!)
$1.2 billion youth summer jobs for people 24 years old & younger
$4.2 billion for neighborhood building projects
$650 million for digital television upgrades
$34 million for department of commerce building renovation (the building must’ve burned down!)
$44 million for department of agriculture building renovation (did that one burn, too?)
$88 million for the department of health services to move to another location (quick, buy stock in moving companies!)
$600 million to convert federal cars to hybrids (how long will it take for that to pay off in fuel savings? I need a calculator!)
$2 billion for renewable energy research
$6.2 billion for weatherization assistance (that’s a lot of duct tape & plastic)
$3.5 billion for energy efficiency block grants
$300 million for energy efficiency appliance rebates
$1.5 billion in green energy loan guarantees
$79 billion for state fiscal recovery fund (state bail-outs)

A lot of these are good things, but where in the U.S. Constitution does it provide for these expenditures from the federal treasury, and tell me how we get 3 million jobs out of this bill (that is what this is supposedly geared towards). And why on Earth is our federal government bailing out individual states? Our founding fathers set up a system of federalism for a reason. THE FEDERAL GOVERNMENT IS NOT SUPPOSED TO BAIL OUT STATES! More of these items can be found in the link on the bottom of the page.

The Feds want to buy a polar ice-breaking ship. They want to throw money at Amtrak and weatherization assistance. How do these proposals create long-term meaningful jobs? AND HOW ON EARTH IS PROVIDING $500M FOR THE ENDOWMENT FOR THE ARTS STIMULATING FOR THE ECONOMY!?!?! Holy smokes! I guess I'm just arts-impaired. I believe the arts are a great thing to take in. They help to make a well-rounded individual, but for pete's sake, how on Earth is throwing taxpayer dollars at them during a strong recession going to get us back on track and get suffering people back into a growing economy?

Some in Washington and elsewhere complained about how much had to be cut from the bill. Well, what I say is...CUT MORE! This bill is nothing but pork! You could make a breakfast with all the pork for the whole community! All that is missing is the eggs and hash-browns. Scrap this thing and start from scratch! I don't want to see a little scalpel pick away at the proposal...GET A DOGGONE CHAINSAW!

Some in Washington say we don't have a choice but to pass this bill, or our economy will collapse. Obama says our economy "may never recover". House Speaker Nancy Pelosi made a huge gaffe recently by saying the U.S. economy loses 500 million workers a month (there are only just over 300M people living in the U.S.) YES WE DO HAVE A CHOICE! Let's shred this proposal and actually put through something that CREATES JOBS! If we are going to drive ourselves nearly $1 TRILLION further into the deficit, I would rather see it in cuts for the corporate income, dividend and personal income tax rates, along with any other tax cuts that would put more money back into the pockets of the people who earned it. This would foster investment, innovation and entrepreneurship. THIS IS WHAT OUR ECONOMY NEEDS NOW! THIS WOULD PROVIDE JOBS, AND WOULD HELP PULL US OUT OF THIS ECONOMIC DOWNTURN! This would create a more permanent stimulus, and actually stimulate the economy.


FULL TEXT OF THE BILL FROM OPENCONGRESS.ORG
More on the "stimulus" from OpenCongress

ENOUGH WITH THE BAILOUTS ALREADY!!!

What on Earth is going on with the picture I am seeing from Washington regarding the economy. It seems they think that throwing endless streams of money at the economic problems we are facing are the answer. The fix to these guys isn't getting these failing companies to bring in new management, it is to give them taxpayers' dollars. Money that the hardworking people of America have sweated to make, and still barely get to ends' meat.

So we give at least $105 billion to AIG. What do they do just before receiving the taxpayer money? They take new recruits to a California resort to train them. If you are that financially strapped, go to a state park or some farmer's barn, if he will have you, to bring in new associates. For Pete's sake, you don't go to a Ritz-Carlton in California if you are on the brink of bankruptcy. We bail out Wall Street firms. We have financially strapped cities and states waiting to line up. There is even talk that Starbucks may even apply for a bailout. Since when is Starbucks providing a necessary service or good? Don't get me wrong, I like my coffee as much as the next guy, but Starbucks isn't the only firm, and our economy doesn't use them as a bedrock to prop up the system. ENOUGH ALREADY!!! We are swimming out on uncharted, dark waters with this strategy. There is no constitutional jurisdiction I can find for this runaway madness. There is no precedent for it in our history. The government became involved on a strong level following the Crash of 1929 and the Depression that followed, but that even pales in comparison to the road our government is blazing today.

I was a strong opponent to the idea of bailing out the Big Three automakers, until I read this column from the great scholar Pat Buchanan. However, I still remain skeptical about it, although I do realize that we can't let Detroit fold.

I do not believe government money will even come close to solving the problem. We are putting Scotch tape on a breaking dyke. The problem is greed, lack of morality, and poor management. Throwing dollars the TAXPAYERS earned at the problem is like pouring buckets of water INTO a sinking ship. It is a terribly misguided policy.

I guess we could leave it to the poor management in Washington to try to come up with these kinds of ideas to "help" the poor management in corners of the corporate world of our country. Meanwhile, who will be footing the bill? Who else, but those of us in my generation who are in our twenties, and our children, and future grandchildren. At the same time, many of those passing these ideas through legislation will have long passed from this life.

God, please help us!

BREAKING NEWS

MAJOR U.S. FINANCIAL FIRMS END FRANTIC WEEKEND, JEOPARDIZE U.S. FINANCIAL HEALTH.

Two of the best known, and oldest names on Wall Street are virtually unrecognizable tonight as new signs emerge that the major errors in judgement that the nation's major financial firms have made are jeopardizing the nation's financial health. Also, a leading insurance provider is nearing crisis mode tonight.

Lehman Brothers, a venerable Wall Street name dating back to 1850, is teetering very close to the verge of bankruptcy, and maybe even liquidation tonight, as several attempts at a buyout are, so far, unsuccessful. The leading contender to buy out Lehman was the major British bank Barclays PLC, but discussions for a deal have fallen flat. Rumors have fired up that bankruptcy discussions are ongoing tonight. Lehman's problems stem from the sub-prime mortgage crisis, and a global credit crunch that has surfaced in recent months.

One of the largest Wall Street names, Merrill Lynch & Company, now will have a new parent company. It was announced tonight that Bank Of America Corp. will purchase Merrill for $44 billion, or $29 per share. The move was pushed by the Federal Reserve, and was reached after 48 hours of frantic negotiations.

Another financial behemoth is facing serious trouble tonight. Insurance giant American International Group Inc., is rushing to sell some assets and overhaul the business, on the threat from Standard & Poors that it might cut its debt rating. CNBC even reports that AIG has gone to the Federal Reserve to ask for a loan. AIG has also been seriously affected by the sub-prime mortgage crisis.

Asian markets are tumbling in Monday trading, and the Dow Industrials look to close down by at least 300 points when trading opens in about 10 hours.

Major Wall Street firms have reportedly loaned out $40 for every $1 in capital they have had. It is faulty to put the Bush Administration, and the federal government at fault for the foolish choices that Wall Street has made. The major financial firms have mostly treated their balance sheets like casinos, and the rest of the country, and even the globe has to suffer for it. Now, the burden looks to shift to the taxpayers, as the government has had to prop up Freddie Mac and Fannie May, and may have to help finance stability of Wall Street.

The actions of the Wall Street firms involved are downright irresponsible, and I will be blunt in calling these choices by them over recent years downright insane. The economy is not to be treated as a casino. I am naturally optimistic, so I know we will get through this. We will have to suffer a little bit before we get out of it, though, I believe.

VW Picks Chattanooga For New U.S. Plant Site

Volkswagen AG, the German automaker, picked a site for its new U.S. plant on Tuesday. The site picked was in Chattanooga, Tenn. This is great news for those who are wanting to see more U.S. jobs, and it is great news for the Volunteer State.

The plant is a $1 billion investment by VW, and it is the first U.S. plant for the automaker since it closed its last U.S. plant near Pittsburgh in 1988. The plant will produce a "new midsize sedan designed specifically for the North American consumer."

Chattanooga beat out sites in Alabama and Michigan for the plant, which will provide at least 2,000 jobs directly to the tri-state area of Tennessee, Georgia, and Alabama. It is to be located on a 1,350-acre site at the Enterprise South Industrial Park, near Interstates 75 and 24.

Chattanooga has been trying to attract an automaker for some time. It missed out on the plant Toyota Motor Corp. is building for $1.3 billion in Tupelo, Miss., and the $1.2 billion plant that Kia Motors Corp. is building in West Point, Georgia.

VW only has a 2 percent stake in the U.S. auto market, but it wants to drastically expand that. The company wants to increase U.S. sales by triple to 1 million by 2018. It is also building factories in Russia and India in a bid to become the world's second largest automaker.

Congrats to Tennessee on attracting this big of a jobmaker!

AP Story

VW Announcement Eases Past Snubs

Will Today's Wall Street Action Bode Well For Romney?

For those who may not know, Wall Street was again jittery today on economic fears. Will this persuade fence-sitting voters to go out and vote for Romney today. This is his strong issue, so time will tell.

DEVELOPING FINANCIAL STORY

GLOBAL MARKETS SWOON DRASTICALLY ON FEARS OF U.S. RECESSION, WALL STREET LOOKS TO OPEN TUESDAY WITH A MASSIVE THUD!

The concern is easily visible on a German DAX trader's face Monday as world stock markets plummeted on fears that a possible recession in the United States could carry over to the rest of the world. The DAX in Frankfurt itself dived over 7 percent in Monday trading.

U.S. stock markets were closed Monday in honor of the Martin Luther King, Jr. national holiday, and that appears to be a blessing from God.

Stock markets in virtually every major foreign country dived in levels not seen for most of them since immediately after September 11, 2001, as fears swarmed over the direction of the U.S. economy and how that would impact the rest of the world. Stock markets in Asia, Europe, and other areas of the Americas dived anywhere from 5 to 7 percent. Close to home, Canada's TSE-300 barometer plunged by nearly 5 percent.

Tuesday looked even more grim. India's main stock index dived 9 percent, causing trading to be temporally suspended. Japan's Nikkei Index just closed a little while ago, having finished down nearly 6 percent. The ASX in Australia plummeted by nearly 7 percent. In China, the Shanghai Index dived another 7 percent. Oil and gold futures continued their downward movement. The odd thing is, gold usually benefits from uncertainty in stock markets.

As I am writing, European markets are beginning their Tuesday sessions, with more losses piling up on the ones from the day before. In London, the FTSE-100 index was recently down a more modest 3.4 percent, bringing its two-day loss total to nearly 9 percent. In Paris, the CAC-40 barometer was diving 4.3 percent, and is now down over 11 percent in two days.. Frankfurt's DAX-30 was lower by 4.6 percent, on top of yesterday's 7.2 percent slam downward.

Attention will now be widely focused on U.S. stock markets in just a few hours when they open at 9:30 AM EST. Futures for the Dow Jones Industrial Average have recently been down as much as 650 points, which would reflect a nearly 6 percent drop. We'll be watching, and you can too with the two following links:

-MarketWatch

-CNN Money